In a shocking turn of events last July, Australian cryptocurrency billionaire Tim Heath narrowly avoided a violent kidnapping attempt in Tallinn, Estonia. During a confrontation in his apartment building, Heath managed to bite off part of one assailant’s finger, ultimately escaping the ordeal, as revealed in an Estonian court this week.
Key Highlights:
- Tim Heath fought off kidnappers by biting an attacker’s finger.
- Heath was stalked for weeks before the incident, with the assailants using disguises and GPS tracking to monitor him.
- Seven individuals are charged with plotting to abduct Heath and seize his crypto assets.
This incident underscores an alarming trend of targeted kidnappings involving affluent figures in the cryptocurrency sector, prompting many in the industry to reassess their security protocols.
Heath, a leading investor and the founder of the Estonian-based Yolo Group, was ambushed by two men posing as painters within the stairwell of his residence.
Ex-Boxer Attempts to Subdue Crypto Magnate in Botched Kidnapping
As reported by Eesti Ekspress and the Sydney Morning Herald, one of the attackers, Allahverdi Allahverdiyev, an Azerbaijani former boxer and wrestler, attempted to restrain Heath by covering his mouth. In a moment of fierce self-defense, Heath bit into Allahverdiyev’s index finger, allowing him to break free and retreat to safety inside his apartment.
The altercation lasted approximately 30 seconds and resulted in Heath losing a tooth, but ultimately led to the assailants abandoning their effort to abduct him.
Law enforcement recovered a rented van left by the attackers and later found a portion of Allahverdiyev’s severed finger around 100 meters from the scene of the struggle.
According to court records, the assailants had been monitoring Heath for weeks, employing both physical surveillance and a GPS device affixed to his vehicle.
Prosecutors suggest that the perpetrators planned to forcibly transport Heath to a rented sauna where they would compel him to transfer his cryptocurrency assets.
This is David Balland.
He co-founded Ledger, one of the biggest companies in crypto
This week, he was kidnapped and tortured
Here’s the full story of what happened: (and why it’s a wake-up call for everyone in crypto) pic.twitter.com/0NpLlN8aZm
— Pix (@PixOnChain) January 24, 2025
Allegations have surfaced that a hacker was also collaborating with the group to facilitate the digital theft.
The seven suspects reportedly used counterfeit Georgian passports to enter Estonia. In preparation for their plot, they acquired painters’ gear and uniforms days before the attempted abduction.
So far, two individuals have been arrested: Allahverdiyev and Ilgar Mamedov, a Georgian whom prosecutors identify as the getaway driver. Mamedov has denied any wrongdoing, claiming his presence in Estonia was a coincidence, while three other suspects remain unidentified. Authorities are actively searching for two additional men, including the suspected ringleader, Najaf Najafli.
Post-Abduction Threat: 30 Bitcoin Demand
Following the failed kidnapping, Heath reportedly received a Telegram message featuring images of his apartment alongside a demand for 30 Bitcoin, valued at approximately $3.3 million at that time.
Although Heath did not respond to the demand, authorities caution that the threat may still linger, as there have been no subsequent attempts to contact him.
In light of the incident, Heath has invested over $3.1 million in private security measures and relocated to a new residence. His legal team is pursuing compensation for these expenses from the kidnapping suspects as the case unfolds in Estonia.
This latest attack follows an alarming incident on May 1, when four masked assailants kidnapped the father of a cryptocurrency entrepreneur in Paris, severing one of his fingers before police intervention. Additionally, another violent encounter involved the father of a crypto millionaire, and an unfortunate tourist in New York suffered torture for over two weeks as kidnappers attempted to extract his Bitcoin credentials.
The details surrounding Tim Heath’s attempted abduction highlight the increasing risks faced by individuals in the cryptocurrency world, prompting urgent discussions on security and safety within the industry.
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